Updated / Wednesday, 12 May 2021
12:48
FBD said today that the underwriting performance of its business so far this year has been in line with expectations
FBD Insurance has said the provision it holds for Covid-19 business interruption claims relating to its pub policies remains at €65m net of reinsurance.
In a trading update issued ahead of its AGM today, the company said that a recent supplementary court judgement gave additional clarity on costs and the definition of closure.
FBD said the final determination of the remaining aspects of quantum should be determined after a further court hearing in July.
"In the meantime we will continue to progress our claim with reinsurers. In addition we have engaged with the Financial Services & Pensions Ombudsman (FSPO) on complaints that they are in the process of adjudicating," the company added.